FP: 22
Entry: 20 sol (Make bids and read analysis)
Hold time: 2-4 weeks
Risk: 2.5 sol
Analysis
Holding a taiyo oil gives you a free Pilots airdrop, Taiyo’s new mint. I suspect they are going to announce a mint date next week or the week after. The project is holding a steady floor price occasionally dropping down to 20 sol. I believe these can go to 25+ sol as we get an announcement on the mint date and we approach it.
There is a macro risk being America’s CPI data and FOMC meeting which is happening next week. If the outcome of these events isn’t favorable, we could see a strong pullback and potentially a delay in the mint depending on what happens. While I believe this outcome is unlikely, it’s worth keeping a close eye on. As a result, I’ve entered with 2% of my portfolio at 20 sol and I’ll increase my exposure to 4-5% if we see any major dips
ME: https://magiceden.io/marketplace/taiyooil
